The world's 25 largest hedge fund managers reported 11 billion dollar positions in financial stocks at the end of 2017, led by Icahn Capital LP's $2.56 billion stake in American International Group Inc. Coming in second was Apollo Global Management LLC's $2.20 billion investment in Athene Holding Ltd., although the hedge fund continues to decrease its position, this time by 35.2% in the fourth quarter of 2017.
Bank of America Corp. was the third-largest investment at $1.79 billion and also the most widely held, with six of the 25 hedge fund managers reporting a position in the bank at year-end.
Wells Fargo & Co. ranked at No. 16, as Viking Global Investors LP increased its position in the company to 5,338,016 shares as of December 31, 2017, up 3,440,121 shares from the third quarter of 2017. Select Equity Group L.P. also held 6,632,404 shares in the company at the year-end, cutting its position by 40,912 shares during the fourth quarter.